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TGP Trade Entry With Price Targets

TGP Teekay LNG Partners LP) was one of my top picks in the recent shipping stock videos. The stock now offers an objective long entry on this break above the 14.10 resistance level with a backfill of that huge gap likely, should the shipping sector continue to rally in the coming days/weeks.

TGP daily April 22nd

TGP daily April 22nd

At this time, T1 at 16.96 is the sole profit target with a suggested stop below 13.50. I've also added two potential additional targets which might become official targets should I continue to see bullish developments in both TGP as well as the shipping sector. TGP looks to offer an objective entry anywhere above but not below 14.10 and as high as the 15ish area. The current price is 14.30.

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Apr 22, 2016 9:47am|Categories: Completed Trades - Long|Tags: |4 Comments

4 Comments

  1. lee1 April 22, 2016 11:11 am at 11:11 am

    How quickly TGP has given up what looked like would be a nice gain today if not for the market. I see how quickly everything can turn around once the market starts heading down.

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  2. GetItRiight April 22, 2016 11:25 am at 11:25 am

    You’d never guess my entry point: 14.62, almost at the high of the day, lol. My stop is at 13.80.

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    • rsotc April 22, 2016 12:21 pm at 12:21 pm

      Win some, lose some. With the broad markets likely headed lower, you might want to hold tight on that stop & not extend it. When I was composing those posts on the two shipping stock trade ideas this morning, only the Q’s were down while the other broad indices were holding up. In hindsight, I should have waited to see how the day progressed before adding those but best to stick with your trading plan on an individual stock & not let the broad market make you second guess the trade. Although further selling in the broad market will likely bring down the shippers, there are plenty of instances where a particular stock or sector will rally despite the broad markets falling. G-luck!

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    • Omdavis21 April 22, 2016 12:26 pm at 12:26 pm

      @getitriight Entry is critical. I lost a lot figuring this out. Fear of missing out is also powerful. I try to set up most of my buys anymore with stop buys so I make the decisions when I’m not caught up in the stress of the day and also do a bracket order along with it so that I can put in a stop and a profit taker if I want. I’m sure these are things you know. I’m just trying to pass on what I have learned the hard way.

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